Crypto and NFTs (non-fungible tokens) have been on the rise recently and Coachella is getting into the business by auctioning off lifetime passes called Coachella Keys Collection to the festival.
According to Complex, the festival is working with cryptocurrency exchange FTX to auction off the NFTs. Those who obtain the NFT will be getting "passes to the festival every April and access to Coachella-produced virtual experiences forever," read the press release.
There will be 10 one-of-one NFTs auctioned off and for this years festival they will also get VIP on-site experience which includes front-row views and a celebrity chef dinner.
The sale for the Coachella Keys Collection NFT will open Feb. 4 at 1 p.m. ET on Coachella's official NFT marketplace site. Some of the proceeds of the sales will be donated to GiveDirectly, Lideres Campesinas, and Find Food Bank.